How to Set Up Financial Management › How to Create Supplemental Financial Data › Create Charge Codes

Create Charge Codes

To accomplish the following financial goals, create charge codes:

• Process financial transactions and timesheets.
• Support financial planning for investments.
• Differentiate costs and rates by the type of work that is performed for investments (mostly projects).

You can use charge codes to define the type of work that is associated with investments. For example, use charge codes to calculate actual cost for sick time or vacation time when the detailed financial transactions are posted to WIP.

Follow these steps:

1. Open Administration, and from Project Management, click Charge Codes.
2. Click New.
3. Complete the requested information. The following field requires explanation:

   Open for Time Entry

   Specifies if the resource can use timesheets to track time that is spent on task assignments. When cleared, the resource cannot log time on any project.

   Default: Selected

4. Save the changes.